Cash-Flow Opportunity in Indianapolis' Thriving Near Eastside! Whether you're looking to house hack, invest, or grow your rental portfolio, this income-producing duplex is packed with potential. One unit is already leased at $1,350/month, providing immediate cash flow, while the vacant unit is move-in ready for an owner-occupant or new tenant. Each spacious unit features 3 bedrooms and 1 bathroom, with current rents at $1,350 per side and room for growth through simple cosmetic updates. Live in one unit while your tenant helps cover the mortgage, or rent both sides and maximize returns from day one. Located just minutes from downtown Indianapolis, Mass Ave, Bottleworks District, and ongoing redevelopment projects, this property sits in one of the city's fastest-growing rental markets. With solid fundamentals, strong rental demand, and upside potential, this duplex is an excellent opportunity for both new and seasoned investors.
Duplex with brand new roof and 3 bedrooms/1 bathroom on each side. Large living room and separate dining room with original hardwood floors. Updated kitchen with access to the back patio and fenced in separate yards. The basements (unfinished) have hookups for washers and dryers. Upstairs are the 3 bedrooms and the renovated bathroom. Parking in front, or in the back alley. Minutes from Neidhammer Coffee, and Indianapolis Public Library, downtown, and major highways. Tenant is responsible for electric and gas bills. Tenant currently pays $50 water/sewer/trash fee to landlord (included in current rent of $885/month.) 230 side is leased until 9/30/2022. Other side is vacant and is shown in photos.
The D-5 district is intended for medium and large- lot housing formats, primarily for detached houses, but may incorporate small- scale multi- unit building types in strategic locations. This district can be used for new, walkable suburban neighborhoods or for infill situation in established urban areas, including both low density and medium density residential recommendations of the Comprehensive Plan, and the Suburban Neighborhood and Traditional Neighborhood Typologies of the Land Use Pattern Book.
Zone overlays
Compact Context Area
Transit Oriented Development Secondary Zoning District
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Housing-Multiple units
Communications tower
Housing-Mobile home park
Park & open space
Aug 9, 2019 • Active
Structural - one or two family
Addition
Remodel
Jan 9, 2009 • Final
Right of way permit-excavation
Perform a hydrant replacement.
Grading
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
4/10 Heat Factor
7 days above 101° expected this year, 19 days in 30 years
2/10 Wind Factor
0% chance of strong winds in next 30 years
4/10 Air Factor
5 unhealthy days expected this year, 7 days in 30 years
Provided by First Street
Historical weather
Indianapolis, IN • 46201
Average low and high temperatures (°F)
32
18
42
26
61
40
68
48
72
54
83
66
87
72
83
66
81
61
70
50
54
40
41
28
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
83/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.7 hrs
5 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 230 N Rural St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $237,500 and $291,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $238K to $291K.